Dear Friends – it’s amazing to me how many times that after meeting with a younger homebuyer who has already met with another lender, we too often hear something like: “Wow, my other lender was nowhere near this informative and detailed. Thank you for explaining everything to me (us). Thank you!.” Obviously, I’m paraphrasing here (somewhat), but this is a very typical, common response that I get. However, I love hearing it because it reaffirms that I am doing my job well, and we’re meeting peoples hopes and expectations when they schedule an appointment with me to discuss the very important steps of financing their first home. Unfortunately, for many Home Buyers, the lack of explanation is not surprising as backed up by a recent JD Power’s Mortgage Satisfaction Survey that revealed that millennials seek guidance. In fact, “37% of millennial borrowers indicated the origination process was not completely explained to them, and 58% indicated that their options terms and fees were not completely explained.” (*) Say what?!?!?
Serving the millennial home buying market as a lender is not all Rocket ships, and fun-and-game phone apps. There is real work required from a lender, and sound communication is needed to serve this market adequately, and to provide them what they are looking for. To think otherwise, is to minimalize today’s millennial. Millennials Appreciate Personalized Service too! And that is why we are blessed and fortunate to retain their business when they look to refinance or purchase their next home.
Thank you for your continued referrals, they are appreciated more than you know.
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(*) “Millennials Moving Off the Wall” by Ginger Bell published in “The Scottsman Guide” October 2017 article